Financial Management in the Dental Office 1
_______ is the means or process of recording, classifying, and summarizing financial transactions.
What does accounts receivable manage?
The money owned to the practice
Which accounts receivable method can be backed up on a flash drive?
What is a Computer system
How are patient account records organized?
What is a Responsible party
Before treatment, which form can be submitted to the insurance carrier to request information on what the insurance company covers and any additional patient payments or copayments?
What is a pretreatment estimate
When should all receipts, including checks and cash, be deposited?
Daily
______ pay is the total pay before deductions are subtracted.
What is Gross
Which form indicates the number of exemptions the employee is claiming?
What is a W-4
What is another name for FICA?
Through which means can a person obtain dental insurance from an employer?
As part of a group plan
Which patient signature box on the insurance claim form is necessary for HIPAA and the privacy of patient dental treatment information?
What is Release of information
Which codes are used to simplify dental transaction processing under the Health Insurance Portability and Accountability Act of 1996?
What is the CDT
What information is collected on patient registration forms?
Information indicating the patient’s coverage under a dental insurance plan
What is the purpose of a walkout statement?
Reduces the number of statements that must be prepared.
Who is the guarantor?
The person responsible for payment of the account
What happens to expenses once they are incurred by a dental practice?
Accounts payable
Each employee must complete a _______ form for tax purposes.
W-4
In insurance terms, what is the role of the dentist?
Provider
After the ______ has completed the case presentation to the patient, the ______ may be asked to handle the discussion of the fees involved.
What is the dentist; business assistant
Which statement represents a detailed list of goods shipped or services rendered with an account of all costs on an itemized bill?
What is an Invoice
Which statement is correct about dental insurance?
A major source of practice income.
What rule was established to determine which carrier is the primary carrier when both parents have insurance to cover a child?